Congratulations to social enterprise Fairphone on being named the fastest-growing startup in the Netherlands.

Speaking about the company’s win, its founder Bas van Abel said:

As a social enterprise, winning this award proves that purpose and profit can go hand in hand. It is also a great consumer statement, who have voted with their wallets and show that there is a market for ethical electronic products.

The aim of Tech5 is to identify Europe’s fastest-growing young tech companies. Finalists are chosen by their growth rate between 2012 and 2015 based on actual revenue and employee data. Each company must offer its own scalable tech-driven product or service, be less than five years old and must have revenues of more than €200,000.

The Netherland’s Tech 5 final follows the UK and German finals with France, Sweden and Spain happening in the coming weeks.